Japan's Push to Boost Semiconductor Manufacturing with $3.9 Billion Subsidy

Japan has approved subsidies amounting to ¥590 billion ($3.9 billion) for chip venture Rapidus Corp. This funding will facilitate the purchase of chipmaking equipment and the development of advanced back-end chipmaking processes. The additional financial support is in line with the country's ambition to enhance its semiconductor industry and be on par with key players like Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. Rapidus Corp., a 19-month-old startup, aims to mass-produce chips in Japan's northernmost prefecture of Hokkaido. The significant investment signifies Japan's determination to regain its position as a global chip powerhouse, emphasizing its commitment to fostering a competitive semiconductor landscape.